Jan 11, 2008 5:48 pm US/Eastern
Amendment 1: Property Tax Reductions Or Not
MIAMI (CBS4) ―
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Governor Crist is in town promoting the latest property tax cut amendment which will only offer the average homeowner $200 in savings. Do you plan to vote for it?
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Gov. Crist acknowledged that
Amendment 1 is not a fix to the state's property tax crisis, but it is more of a start to real property tax relief. Others believe
homeowners might not save as much as they thought if the proposal on the Jan. 29 ballot to revamp the property tax system passes."The people want their taxes cut and it is very simple," said the governor, "vote yes on amendment 1 on January 29th."
The amendment, which has four parts, would save the average homeowner about $240 a year.
Under terms of the plan, it would double the existing $25,000 Homestead exemption for primary homes valued at more than $50,000 but only for non-school taxes.
A "portability" provision would allow homesteaders to take existing Save Our Homes benefits along when they move. Save Our Homes limits annual assessment increases to 3 percent but only for primary homes.
Another provision would provide businesses, second homes and rental properties with a similar cap of 10 percent.
Finally, the amendment would give businesses a $25,000 exemption on equipment and other personal property.
The amendment will appear on the January 29th presidential primary ballot.
Supporters of Amendment 1 admit it doesn't cure the property tax crisis, does nothing to lower bills for new buyers, for second home owners or businesses, but it is a beginning.
Crist acknowledged those who are against the amendment are so because it doesn't go far enough for them.
"We'll do more, we'll keep going, this is not the end, this is just the second play," said Crist.
Fair Property Tax For All Inc. points out that the amendment will only save the average homeowner about $200 a year in property taxes.
They are seeking support for a constitutional amendment that would limit taxes on all properties to 1.35-percent.
They need 600,000 signatures from various municipalities across the state to get the measure on the January 29th ballot.
Click Here to find out more about the "1.35-percent Tax Plan"
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